Tag: missing

Micron Technology shares dropped more than 6 percent during after hours trading Tuesday after the company missed revenue expectations in its quarterly earnings. The company reported $7.91 billion, missing revenue estimates of $8.02 billion. Micron said the impact of US tariffs were a half percent of its gross margin in the fiscal first quarter. The Boise, Idaho-based company announced in September that President Trump’s tariffs on Chinese goods will hurt its profitability. Both Deutsche Bank and

Micron Technology shares dropped more than 6 percent during after hours trading Tuesday after the company missed revenue expectations in its quarterly earnings.

The company reported $7.91 billion, missing revenue estimates of $8.02 billion. However, it exceeded expectations in earnings, reporting $2.97 per share, beating analysts’ expectations of $2.96 per share.

On a conference call, Micron’s CEO Sanjay Sehorta said the revenue headwinds were due to “inventory adjustments.” The company also announced plans to reduce capital expenditures in fiscal 2019.

Micron said the impact of US tariffs were a half percent of its gross margin in the fiscal first quarter.

The Boise, Idaho-based company announced in September that President Trump’s tariffs on Chinese goods will hurt its profitability.

“Our gross margins will also be impacted in the near term by the announced 10 percent tariff on $200 billion of imports from China which will go into effect on September 24,” CFO David Zinsner said. “We are working to gradually mitigate most of the impact from these tariffs over the next three to four quarters.”

Both Deutsche Bank and BMO Capital Markets cut their price target for Micron by 25 percent in September.

Canadian businessman Michael Spavor, who worked with North Korea, is missing in China, a Canadian official said, days after Chinese authorities detained a former Canadian diplomat amid an escalating diplomatic row. State media in China has reported Kovrig is being investigated “on suspicion of engaging in activities that harm China’s state security.” Canadian Foreign Minister Chrystia Freeland earlier told reporters that a second Canadian citizen could be in trouble in China. The group says on i

Canadian businessman Michael Spavor, who worked with North Korea, is missing in China, a Canadian official said, days after Chinese authorities detained a former Canadian diplomat amid an escalating diplomatic row.

His disappearance follows the detention in Beijing on Monday of former diplomat Michael Kovrig, who works for the International Crisis Group. State media in China has reported Kovrig is being investigated “on suspicion of engaging in activities that harm China’s state security.”

Spavor, meanwhile, is being investigated in China on suspicion of harming China’s national security, a Chinese government news site said on Thursday. The Dandong city state security bureau has been investigating Spavor since Dec. 10, an official news site of the Liaoning province government said. It did not give further details.

China has reacted angrily to Canada’s arrest on Dec. 1 of Chinese executive Meng Wanzhou, the chief financial officer of China’s Huawei Technologies, and Spavor’s disappearance is likely to further escalate the diplomatic row.

Meng’s arrest was made at Washington’s request. She has been accused by U.S. prosecutors of misleading banks about transactions linked to Iran, putting the banks at risk of violating sanctions.

Canada has been unable to contact Spavor since he notified the Canadian government that he was being questioned by Chinese authorities, Foreign Ministry spokesman Guillaume Berube said in statement issued in Canada late on Wednesday.

Canada was working hard to ascertain Spavor’s whereabouts and would continue to raise the issue with the Chinese government, Berube said.

Canadian Foreign Minister Chrystia Freeland earlier told reporters that a second Canadian citizen could be in trouble in China.

Phone calls, messages and emails to Spavor went unanswered on Thursday.

Friends of Spavor told Reuters he was due to fly out of Dalian on a Korean Air flight to South Korea at 2:05 p.m. (0605 GMT) on Monday but had not arrived.

Spavor, who is based in the northern Chinese city of Dandong, on the border with North Korea, is the head of Paektu Cultural Exchange, a China- and UK-based non-profit social enterprise.

The group says on its website it is “dedicated to facilitating sustainable cooperation, cross-cultural exchanges, activities, trade, and investment” with North Korea.

It also says the organisation maintains an “array of contacts” within North Korea and is “nonpolitical.”

Spavor has acted as a translator and facilitator for former U.S. National Basketball Association star Dennis Rodman on trips to North Korea and shared Long Island Iced Teas with North Korean leader Kim Jong Un on board one of his private boats after they went jet-skiing in 2013.

More recently he has been trying to facilitate investment in North Korea in anticipation of sanctions being lifted, often hosting both North Korean officials and potential investors at his office in Dadong as well as on trips inside North Korea, Spavor told Reuters in previous interviews.

Five U.S. Marines were missing after two Marine Corps aircraft collided in mid-air and crashed into the sea off the coast of Japan on Thursday, in what U.S. officials said may have been a refueling exercise gone wrong. A series of emergency landings and parts falling from U.S. military aircraft have highlighted safety concerns. The Marine Corps said in a statement the incident occurred around 2 a.m. local time in Japan (1700 GMT Wednesday) about 200 miles off the Japanese coast. The two aircraft

Five U.S. Marines were missing after two Marine Corps aircraft collided in mid-air and crashed into the sea off the coast of Japan on Thursday, in what U.S. officials said may have been a refueling exercise gone wrong.

Japan’s defense ministry said its maritime forces had so far found two of the seven Marines who were aboard the aircraft — an F/A-18 Hornet fighter jet and KC-130 Hercules — at the time of the incident.

One was in a stable condition at Marine Corps Air Station Iwakuni, while the second had been found about 10 hours after the collision and brought aboard a Japanese military vessel, the ministry said. No other details about the second Marine were known, a ministry spokesman said.

Search and rescue efforts for the remaining five continued.

The incident adds to a growing list of U.S. military aviation accidents around the world in recent years, prompting hearings in Congress to address the rise.

The Military Times reported earlier this year that aviation accidents jumped nearly 40 percent from fiscal years 2013 to 2017. At least 133 service members were killed in those incidents, it said.

U.S. military accidents are a sensitive topic in Japan, particularly for residents of the southern prefecture of Okinawa, which is home to the bulk of the U.S. presence in the country. A series of emergency landings and parts falling from U.S. military aircraft have highlighted safety concerns.

“The incident is regrettable, but our focus at the moment is on search and rescue,” Japanese Defense Minister Takeshi Iwaya told a news conference. “Japan will respond appropriately once the details of the incident are uncovered.”

The Marine Corps said in a statement the incident occurred around 2 a.m. local time in Japan (1700 GMT Wednesday) about 200 miles off the Japanese coast.

The two aircraft had launched from Marine Corps Air Station Iwakuni and were conducting regular training when there was a “mishap,” the Marine Corps said.

The Marine Corps did not elaborate on the nature of the incident. A U.S. official, speaking on condition of anonymity, said it occurred during a refueling exercise.

Officials who spoke to Reuters on condition of anonymity were unsure precisely how the mishap occurred but none suspected foul play. An investigation has begun.

Guess shares fell more than 10 percent during after hours trading Wednesday after the clothing company missed expectations for its quarterly earnings. The clothing brand reported earnings of 13 cents per share, while analysts predicted earnings per share of 16 cents. The company’s fourth quarter earnings per share guidance was in line with expectations. The company predicts earning 69 cents per share to 76 cents per share. Earlier this year, Co-Founder Paul Marciano resigned as executive chairma

Guess shares fell more than 10 percent during after hours trading Wednesday after the clothing company missed expectations for its quarterly earnings.

The clothing brand reported earnings of 13 cents per share, while analysts predicted earnings per share of 16 cents. However, the company beat on revenue estimates of $603 million, reporting $605 million.

The company’s fourth quarter earnings per share guidance was in line with expectations. The company predicts earning 69 cents per share to 76 cents per share. Analysts expected 75 cents a share.

Comparable sales in the Americas were up 3 percent, vs. analyst estimates of up 2.1 percent.

Shares are up 25 percent year-to-date. Earlier this year, Co-Founder Paul Marciano resigned as executive chairman after allegations of improper conduct made by model Kate Upton. These include inappropriate comments, text messages and unwanted advances. His brother, Maurice Marciano, was appointed in his place.

The first significant rain in months in northern California helped firefighters battle the deadliest wildfire in the state’s history on Wednesday, but raised the risks of flash flooding that could hinder teams searching for human remains. The blaze killed at least 83 people, and 563 are still unaccounted for, Butte County Sheriff Kory Honea told a press briefing on Wednesday. The rain added to the misery of evacuees camped out in a Walmart parking lot in nearby Chico, where local residents donat

The first significant rain in months in northern California helped firefighters battle the deadliest wildfire in the state’s history on Wednesday, but raised the risks of flash flooding that could hinder teams searching for human remains.

Between 4-6 inches (15 cm) of rain was expected to fall through the weekend in areas around the town of Paradise, the community of nearly 27,000 people 175 miles (280 kilometers) northeast of San Francisco that was largely incinerated by the Camp Fire. The blaze killed at least 83 people, and 563 are still unaccounted for, Butte County Sheriff Kory Honea told a press briefing on Wednesday.

“The rain is a concern for us and there is the potential for mudflows,” Honea said, adding that he would pull searchers out of areas if they faced any risk of being caught in mudslides.

The rain added to the misery of evacuees camped out in a Walmart parking lot in nearby Chico, where local residents donated freight pallets and tarps to help evacuees shelter from overnight temperatures just above freezing.

“I’ll get a pallet and get my tent up off the ground,” said Mitchell Manley, who evacuated from the village of Concow and managed to get his elderly mother out of nearby Magalia.

Warehouses were being opened up in Chico to provide evacuees protection from the cold and rain and to move them out of the Walmart car park, said Manley’s partner, Carol Daugherty.

Nvidia shares tumbled 18.8 percent at Friday’s close after missing on revenue and guidance in its third-quarter 2019 earnings report. The company missed analyst revenue expectations of $3.24 billion per Refinitiv, with the company recording $3.18 billion for the quarter. Revenue for Nvidia’s biggest segment, gaming, fell below the $1.89 billion FactSet consensus estimate, coming in at just $1.76 billion for the quarter. In the segment containing crypto-related revenue, Nvidia reported a 23 perce

Nvidia shares tumbled 18.8 percent at Friday’s close after missing on revenue and guidance in its third-quarter 2019 earnings report.

The company missed analyst revenue expectations of $3.24 billion per Refinitiv, with the company recording $3.18 billion for the quarter. Guidance for the fourth quarter was $2.70 billion, plus or minus 2 percent, excluding certain items. That compares with the Refinitiv consensus estimate of $3.40 billion.

Surplus inventory weighed heavily on the company’s fourth-quarter guidance. On a call with analysts following the report Thursday, CEO Jensen Huang said it could take up to two quarters to move through the additional inventory.

“Our Q4 outlook for gaming reflects very little shipment in the midrange Pascal segment to allow channel inventory to normalize,” Chief Financial Officer Colette Kress said on the call. Revenue for Nvidia’s biggest segment, gaming, fell below the $1.89 billion FactSet consensus estimate, coming in at just $1.76 billion for the quarter.

In notes Friday, analysts expressed varying degrees of concern over the excess inventory, with some saying it would be a temporary problem. Others, such as Wells Fargo, said “investors will be frustrated”:

“While we can appreciate that NVIDIA’s weak F4Q19 outlook is impacted by a 1-2 quarter work-down of Pascal mid-range gaming card inventory in the channel (~$600M; assuming no sell-in in F4Q19 as crypto-related dynamics flush through the channel), coupled with a seasonal decline in game console builds, we think investors will be frustrated by NVIDIA’s comments exiting F2Q19 that: ‘…we [NVIDIA] see inventory at the lower-ends of our stack…inventory is well positioned for back-to-school and building season that’s coming up on F3Q19…’ ”

Susquehanna, which had predicted a decline in Nvidia’s cryptocurrency-related revenue, said the weak revenue and guidance “appears significantly larger than our sizable expectation.” In the segment containing crypto-related revenue, Nvidia reported a 23 percent year-over-year decline at $148 million, which still beat the FactSet consensus estimate of $102 million. The firm reduced its price target estimates from $230 to $210.

“While we have been the crypto-GPU bears on the Street, admittedly we were not patient enough to let this unwind fully play out, and may have also underestimated the size of this Ethereum GPU bubble,” Susquehanna wrote. “That said, we are long-term bulls on NVDA as we believe in the A.I. inference opportunity, pro-viz upgrade cycle and 7nm refresh coming this fall. While NVDA’s report was unexpectedly bad, there is one thing we know… AMD will likely be worse.”

Nvidia’s revenue and guidance miss appears to have an effect on one of its closest competitors in the computer chip space, Advanced Micro Devices. AMD also closed down 3.9 percent Friday.

The Camp Fire in Butte County has become the deadliest wildfire in California’s history as the death toll climbed to 63, with over 600 people still missing. Residents who were able to evacuate have returned to find their homes completely destroyed as they sift through for any keepsakes they can find. Thousands of people are now living in tents and shelters as donations of food and clothing begin to pour in. Emergency responders along with the National Guard continue to search for the missing, an

The Camp Fire in Butte County has become the deadliest wildfire in California’s history as the death toll climbed to 63, with over 600 people still missing. Over 15,000 homes and businesses have been reduced to ash.

Residents who were able to evacuate have returned to find their homes completely destroyed as they sift through for any keepsakes they can find. Thousands of people are now living in tents and shelters as donations of food and clothing begin to pour in.

Emergency responders along with the National Guard continue to search for the missing, and the death toll is expected to climb even higher in the following days.

The following are some of the devastating scenes from the town of Paradise.

Photo above: Michael John Ramirez hugs his wife, Charlie Ramirez, after they recovered her keepsake bracelet from their fire safe in the rubble of their home, destroyed by the Camp Fire in Paradise, California.

With respect to guidance, Nvidia said it’s expecting $2.70 billion in revenue in the fiscal fourth quarter, plus us minus 2 percent, excluding certain items. Overall, in the fiscal third quarter, Nvidia’s revenue rose 21 percent year over year, according to its earnings statement. In its fiscal second-quarter earnings, the chipmaker fell short of analyst expectations on guidance despite beating on earnings and revenue estimates. But as both currencies have sunk in value, so too has this segment

Overall, in the fiscal third quarter, Nvidia’s revenue rose 21 percent year over year, according to its earnings statement.

In its fiscal second-quarter earnings, the chipmaker fell short of analyst expectations on guidance despite beating on earnings and revenue estimates. The company’s cryptocurrency mining products suffered a hefty decline in that quarter, and the trend continued in the fiscal third quarter.

It has become less profitable to use graphics processing units, or GPUs, for mining, according to a recent analysis by Susquehanna. To mine cryptocurrency, computers compete to solve complex math problems in exchange for a specific amount of bitcoin or ethereum. But as both currencies have sunk in value, so too has this segment of revenue for Nvidia.

“Our near-term results reflect excess channel inventory post the crypto-currency boom, which will be corrected,” Nvidia CEO Jensen Huang is quoted as saying in a Thursday press release. In the fiscal third quarter Nvidia’s revenue from original equipment manufacturers and intellectual property totaled $148 million, which was down 23 percent year over year but above the FactSet consensus estimate of $102 million. Nvidia chocked up the decline to “the absence of cryptocurrency mining” in its earnings statement.

In the quarter Nvidia had a $57 million charge related to older products because of the decrease in demand for cryptocurrency mining.

“Our Q4 outlook for gaming reflects very little shipment in the midrange Pascal segment to allow channel inventory to normalize,” Nvidia’s chief financial officer, Colette Kress, told analysts on a conference call after the company announced its results.

It will take one to two quarters to go through the extra inventory, Huang said on the call.

“This is surely a setback, and I wish we had seen it earlier,” he said.

A social media war that Stormy Daniels launched against Aer Lingus over her missing luggage ended with a Twitter kiss on Thursday. In another tweet, Daniels, using a very rude word, demanded again of Aer Lingus to know where her luggage was. Aer Lingus quickly replied. And within hours, the airline had located Daniels’ luggage, pleasing her greatly. After her speech, Daniels said on Twitter that “a very aggressive piece of s—- paparazzi shoved his camera up my skirt.”

A social media war that Stormy Daniels launched against Aer Lingus over her missing luggage ended with a Twitter kiss on Thursday.

The Irish airline’s luck took a turn for the worse early Thursday when Daniels — who had flown to England for a speech at Oxford Union debating society — announced to her more than 868,000 Twitter followers that “ALL of my bags” were lost by the airline.

In another tweet, Daniels, using a very rude word, demanded again of Aer Lingus to know where her luggage was.

Daniels suggested she would be unable to give her scheduled speech, saying that she “flew 10 hours to give a speech and cannot do that with any of my things.”

Aer Lingus quickly replied.

And within hours, the airline had located Daniels’ luggage, pleasing her greatly.

And Daniels made her appointment at the Oxford Union, where she gave a speech entitled, “Sex, Guns & Other Fluff: How Porn Can Set You Free.”

Daniel gained national notoriety this year with her claims of having had an affair with President Donald Trump in 2006 and since-confirmed allegations that Trump’s personal lawyer Michael Cohen, on the eve of the 2016 presidential election, had given her a $130,000 hush-money payment to keep quiet about their fling.

After her speech, Daniels said on Twitter that “a very aggressive piece of s—- paparazzi shoved his camera up my skirt.”

Even before her kerfuffles with that photographer and Aer Lingus, Daniels was dealing Thursday with the firestorm of news surrounding the arrest Wednesday in Los Angeles of her lawyer, Michael Avenatti, on a charge of domestic violence.

Police say Avenatti was accused Tuesday of violence by an unidentified person.

The attorney has strongly denied the allegations, and pointed to statements by his estranged wife and first wife, who said he had never acted violently toward them or anyone else.

Daniels, in a statement, said, “These are serious and obviously very troubling allegations, but right now that is all they are: allegations.”

“We should all reserve judgment until the investigation — an investigation Michael has said he welcomes — is complete, and that’s what I’m going to do,” Daniels said.

“But of course I do not condone violence against women and if these allegations prove true I will be seeking new representation.”

Butte County Sheriff Kory Honea said a list of the missing would be released soon and that 100 National Guard troops would help teams already looking for remains. “We want to be able to cover as much ground as quickly as we possibly can,” he said. As authorities increased efforts, people waited for any word on those still not found. Greg Gibson was one of the people searching the message board Tuesday, hoping to find information about his neighbors. It would have been such an easy decision to st

Butte County Sheriff Kory Honea said a list of the missing would be released soon and that 100 National Guard troops would help teams already looking for remains.

“We want to be able to cover as much ground as quickly as we possibly can,” he said. “This is a very difficult task.”

As authorities increased efforts, people waited for any word on those still not found.

Greg Gibson was one of the people searching the message board Tuesday, hoping to find information about his neighbors. They’ve been reported missing, but he doesn’t know if they tried to escape or hesitated a few minutes longer than he did before fleeing Paradise, the town of 27,000 which was consumed last Thursday. About 7,700 homes were destroyed.

“It happened so fast. It would have been such an easy decision to stay, but it was the wrong choice,” Gibson said from the Neighborhood Church in Chico, California.